It's a Family Affair - Self Directed IRA & Selling to My Sister
Hi BP!
I am looking at some deals in my hometown in Ohio and these being my first deals in this area after having success in other areas my family is looking to be more involved.
1) My parents would like to invest in some of the deals and only have their retirement funds to invest with. They are retired teachers and have been paying into their retirement funds for over 30 years.
I am new to this aspect of investing and I was wondering if any of you could lead me down the right path as I try to inform myself about how I can help them with a self-directed IRA?
2) My sister is looking to purchase one of the investment deals (as an owner occupied) that I have in contract. I am wondering if any of you have experience selling to your sibling or family members.
If so, what do I have to be aware of or is there any resources you could direct me towards?
Thanks,
-Jared